QFIN - Chinese fintech stocks including Qudian Futu recover some strength

It's been a bad several months for Chinese fintech stocks. First the Chinese government cracked down on apps of all kinds over cyber security concerns, most notably forcing DiDi Global to halt new user registration in July. Then China Evergrande's liquidity crisis reverberated throughout the country's real estate and finance sector. Chinese fintechs are seeing a modicum of recovery in Thursday trading. Qudian (QD +14.1%) gains in midafternoon trading (New York time), followed by real estate app company KE Holdings (BEKE +9.2%), 360 DigiTech (QFIN +9.5%), Futu Holdings (FUTU +6.2%), and LexinFintech (LX +6.4%). See QD, FUTU, QFIN, LX and BKE stock movement over the past three months in chart below. In early September, SA contributor Chris Lau explained why the FUTU is ready for an uptrend.

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Chinese fintech stocks, including Qudian, Futu, recover some strength